OPEC, Mideast Tensions, US Oil Stocks Drive Oil Prices to New Record Over $90

from Bloomberg.com:
By Mark Shenk

Oct. 25 (Bloomberg) -- Crude oil rose above $90 a barrel to a record in New York the day after a government report showed an unexpected drop in U.S. stockpiles.

"It's not a question of when we'll hit $100 but how quickly,'' said Nauman Barakat, senior vice president of global energy futures at Macquarie Futures USA Inc. in New York. "There are no bearish factors in the market right now.''


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